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Olli-Pekka Kallasvuo

When Nokia announced last week that its new CEO would be Stephen Elop, longtime Chairman Jorma Ollila, who led the company into the mobile phone business, was deliberately hazy about his own plans. Now we know: Ollila will remain on board through spring 2012 to help with the transition.

Nokia CEO Olli-Pekka Kallasvuo could be out of a job soon. Analysts have been calling on the handset company's board to replace him for some time. The big complaint: Nokia lacks a phone that competes with Apple's iPhone and RIM's BlackBerry.